More awareness needed on insurance

Malawi has been observing the insurance awareness week from 29 April.

Organisers of the week have described it as crucial in raising awareness on issues of insurance in the country.

In an interview with YONECO FM chairperson for the insurance week Dyton Majeed who is also Chief Executive Officer for Liberty Insurance said people will know where to channel their complaints and claims whenever they incur a loss.

“Our theme for this week is very enlightening and it will clear all the misconceptions that people had on insurance,” said Majeed.

The theme for the week is “Insurance claims and complaints handling”.
One issue that customers complain about is that of late compensation whenever they incur a loss.

“These claims are both justifiable and unjustifiable because some losses are complex and some are not complex, for instance when a shop that was insured has been gutted down by fire there is need for thorough investigations and this may delay the compensation process.”

Majeed however said the insurance business environment in Malawi has been favorable.

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